MasterCard Plans to Help SMEs Fight Cybercrime, Partners With Fintech Startup NowNow

One of the world’s largest payment processing corporations Mastercard has partnered with Nigerian fintech startup NowNow, to secure and protect small and medium-scale businesses (SMEs) from falling victim to cybercrime.

With small businesses among cybercriminals’ favorite targets, most of them do not have the resources to protect themselves from cybercriminals, this has seen Mastercard continually take steps to help these businesses stay safe online.

Hence, with the financial services fintech startup NowNow provides to SMEs, Mastercard has deemed it to partner with the firm to provide these businesses with protection to operate safely online.

As part of the Mastercard start path global program, designed to help later-stage startups innovate and scale, NowNow was provided with operational support, commercial engagement, and the opportunity for strategic investment.

Speaking on Mastercard’s partnership with NowNow, Executive Vice President, Product Optimization and Customer Advancement, Cyber & Intelligence, Paul Trueman said, “As Mastercard brings the next billion people into the digital economy, it is vital that business owners feel as secure and safe from cybercrime as possible. Our partnership with NowNow is key to achieving this. Whether large or small, businesses deserve the peace of mind to operate knowing that they are being kept safe.”

Also speaking on its partnership with Mastercard, NowNow CEO Sahir Berry said, We are excited to partner with the Mastercard Trust Centre to help our customers improve the security of their cyber ecosystem and better protect themselves from cyber criminals.”

MasterCard proclaims its purpose is to connect and power an inclusive digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart, and accessible.

Investors King understands that when it comes to cyber safety, Mastercard has continually played a pivotal role in educating business owners to Chief Information Security (CISOs) at the world’s largest organization on safety measures to take.

According to reports, cybercrime is expected to cost the world $10.5 trillion by 2025, hence the need for small and medium-scale businesses to protect themselves from falling victim to online fraud.